Retail consumer goods are tangible final goods which are available in retail shops to be consumed by individuals in the mass market.
Retail consumer goods are sold through retailing from a fixed location such as department store or kiosk in small or individual lots for direct consumption by the purchaser.
Retailers buy goods and products in large quantities from manufacturers in the shops set up in residential streets or shopping streets.
The retail consumer goods include huge variety of products ranging from baby bottles to power equipments, nanotechnology devices, foods, clothing products, stationary, gift articles, toys, household appliances, kitchen ware, groceries, electronic goods etc.
Retail consumer goods are mostly sold by cost-plus pricing technique by retailers. The cost-price technique adds markup amount to the retailers costs. Suggested retail pricing is another pricing technique which charges suggested amount or the amount printed on the product by the manufacturers.
The retail consumer market is facing tough competition worldwide because of presence of various consumer goods and retail shopping chains in almost every geographic region. To face the challenge of outraged expansion, it has become important for the retail consumer goods companies to adopt the right apph differroach to expand their brand and new product categories along with existing range to reacent regions and people.
Various technical-solutions providing companies are offering solutions that will help retailers in managing supply chain management, forecasts, and improving customer relations.
Retail and consumer goods practice of companies like TCS are using high-tech technology to give retailers a competitive edge in market. The company with its sound technology expertise helps retail and consumer goods enterprises in making accurate product-mix forecasts, enhancing supply chain efficiencies, and improving customer relationships.
The company has developed a service delivery platform on Microsoft® Connected Service Framework for BT Retail, part of the British Telecom Group delivers broadband and narrowband services to more than 2.5 million business and consumer customers in the US. The platform will help BT Retail in adding new services rapidly, meeting business objectives for earning profits, and managing services across networks and services.
The company has developed a solution which includes the ERP to help retailers in managing their value chain, in efficiently controlling inventory and receivables. The solution monitors stock out, inventory aging, receivable aging, risk management and helps in assuring customer satisfaction. The solution helps in improving operational transparency, monitors checks and controls over depots which further help in improving stock management, performs data transfer/synchronization with Head Office.
The CFA Management solution plays an important role in value chain of any retail consumer good company and offers efficient integration of distributed databases working at various depots, manufacturing plants, central warehouses and Head Office.